Government wants to raise retirement age

According to a media report, the government in Beijing is planning to gradually increase the retirement age in light of the rapidly aging society. The People’s Republic is aiming for a „progressive, flexible and differentiated way to raise the retirement age“, the president of the Chinese Academy of Labor and Social Security Sciences, Jin Weigang, was quoted as saying by the state-run Global Times newspaper on Tuesday. „People nearing retirement age will only have to delay retirement for several months.“ Young people might have to work a few years more. But there will be a long adjustment and transition period, the senior government adviser said.